The electricity market in Bulgaria saw a significant surge after today's trading on the Bulgarian Independent Energy Exchange (IBEX) concluded with a sharp increase in prices. Data from the "Day Ahead" market segment, published after the market close, shows that the average price per megawatt-hour reached 177.10 leva (without VAT) for tomorrow's delivery day, August 26.
This result represents a serious price jump compared to the previous day's trading when the price per megawatt-hour was 166.74 leva. The increase amounts to an impressive 6 percent, which will directly affect the costs for Bulgarian businesses and industry. Analysts note that such fluctuations on the exchange create uncertainty and make long-term planning difficult for companies, especially in sectors with high energy consumption.
Price Anomaly on IBEX
An interesting and troubling aspect of today's trading is the price anomaly between peak and off-peak energy. Typically, energy during low-demand hours is cheaper, but today the situation is reversed. IBEX data shows that off-peak energy, traded for the hours from 01:00 to 08:00 and from 21:00 to 24:00, reached an average price of 220.76 leva per megawatt-hour.
At the same time, the average price of peak energy, covering the period from 09:00 to 20:00, is significantly lower – 133.44 leva per megawatt-hour.
This inverse relationship raises questions about market dynamics and the factors driving it, potentially signaling unusual trading strategies or technical issues.
Trading Volume and Impact on Business
The total volume of electricity traded today amounted to 82,668.80 megawatt-hours. The upcoming price increase poses challenges for the economy and could lead to a rise in production costs for a number of companies. Business associations will likely express concern about the volatility of the energy market and the need for greater predictability. The industry is watching the market's development with bated breath, as every such price jump directly affects competitiveness and financial stability.